New Venturetec Semi-Annual Results 2016
New Venturetec results for the first half of the fiscal year 2015/2016 ended March 31, 2016
Results for the six months period ending March 31, 2016
Steinhausen, May 24, 2016. New Venturetec closed the first six months of the fiscal year 2015/16, ended March 31, 2016, with a loss of USD 52,273,431 compared with a gain of USD 14,552,789 in the same period 2014/15. The net asset value per share decreased from USD 12.94 to USD 2.48 which equals -80.1% during the reporting six month period. The share price in the same period decreased from CHF 6.99 to CHF 3.17, or -54.1%.
The loss is mainly a result of the decrease of the public traded share price of Osiris Therapeutics (NASDAQ:OSIR) from USD 18.47 to USD 5.71, or -69.1% in the reporting period. The share price of Myriad Genetics (NASDAQ:MYGN) was stable in the reporting period, USD 37.43 versus USD 37.48. The valuation of the investment in the private company Prolexys did not change materially during the six month ended March 31, 2016. More details on the investment companies are described in the semi-annual report.
As of March 31, 2016, New Venturetec had three investments with one investments valued higher and two below investment costs. The total value of investments is USD 31,375,849, which results in an unrealized loss of USD 13,665,675 against the costs of the investments. The largest position is Osiris Therapeutics (NASDAQ:OSIR) with 74.7% of total investments.
The total board remuneration accrued for the six month period was CHF 25,000. The advisory fee for the reporting period was USD 151,875. Total operational costs for the first half of the fiscal year 2015/16 were USD 223,158.
The semi-annual report, including financial statements for the reporting period can be downloaded from http://www.newventuretec.com/investors/reports.aspx.
About New Venturetec
New Venturetec is a publicly traded Swiss investment company (SIX: NEV) which holds participations in venture companies in the areas of biotechnology and technology which are domiciled in the USA.
The investment horizon should be 10 years or more. A shareholder is recommended to follow the development with interest and base an investment or disinvestment decision on results of the development of the portfolio companies rather than on the general capital market and the investors’ sentiment. Any investor should only invest in New Venturetec if he can afford the complete loss of the investment without having to change his lifestyle. Significant risk is involved and the timelines may exceed the expectations. In addition, the market of New Venturetec shares is very illiquid. The risks of venture investments are 100%. The total loss of the investment has to be considered as a realistic possibility.
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